The Ways of Employees Motivation - Essay Example

Assignment Questions Assignment Questions Discuss the importance of motivation and different ways employees are motivated Organizations and employers have built a reputation and a brand that attracts the best talents and workforce in the job market. They are known as the best organizations to work because of the motivations and benefits they render to their employees. The employees themselves commit themselves to the well-being of these organizations. As a manager to must be able to communicate to your staff and understand the motivational needs and also configure the organizational goals and standards to their goals. When managers create a fair working system and environment that promotes equality to all the employees, it is the organization that benefits a lot. In this kind of environment where employees are motivated, there is increased productivity, more inventions and creativity within the company, staff’s potential is unleashed as they can freely express their opinions and views and ensure that they have been taken seriously. Employees can change their negative attitude about the work and start working in a positive way. When employees are motivated, they have got the urge to stay longer at the organization instead of resigning. Motivated workers will hardly miss at the workstation and will not go for absenteeism as compared to demoralized workers. It is through motivation that the managers will improve the standard of weak performers in the organization. They will closely monitor their work; try to find if the underperforming staffs understands the job description they are doing. After this analysis, the manager will come out with the conclusion that best suites each staff. Managers have a responsibility of challenging their staff to achieve the best. This mechanism makes them as leaders, and role models to their juniors. When managers assign leadership roles to their juniors it really motivates them, and they have a desire to be like their managers and this really helps them to be confident at the workplace. Organizations where employees are allowed to have fun and organize retreats for themselves helps to break the monotony of the work and gives them to rejuvenate themselves. For example, inter - departmental parties, retreats or activities that bonds the staff to work as a family rather than more of workplace. It is important for senior staff to applause the efforts of their juniors. Through this, the junior staff feels appreciated and recognized. Applauding their efforts means they are rewarded by promotions or gifts. 2. Think about your business, how will you motivate the employees while containing costs? In a business setting, for example, in an audit firm, your staff will be mostly accountants. Due to the nature of work whereby most of them deal with calculations, to motivate these workers you are have to design a mechanism that will employ fewer costs to operate. For instance,, giving them more time to spend outside their work environment; this can happen when they leave at work early and not coming during weekends. It will help them to enjoy their personal life and feel motivated. Through this, practice one has reduced the cost at the same time motivated the workers. Another low-cost approach is by organizing counseling sessions for your employees once in a while. These sessions are important and are intended to improve work relations at the workplace at the same time counseling them on the psychological work stress them might have at the workplace. It is important for an organization to encourage the aspect of quality of the job rather than the quantity of the work done. The approach the worker has ability to examine his/her achievement and accomplishment and able to analyze the creativity of the skills he/she has adopted unlike pressuring the worker to multi-task and there end result is poor work done. Horizontal structure of management is vital in an organization that seeks to motivate its staff. Here, the employees and their supervisors are in direct contact and engage each other without barriers of bureaucracies. When there are two ways communication opinions and ideas are shared hence one feel appreciated hence the motivation 3. Why do you need to be fair and consistent? What are the threats? Fairness in the workplace is important as it will work towards bringing uniformity and equal treatment of the workers. Fairness will bring satisfaction among the workers and will avoid rifts among the wok mates. Fairness promotes transparency and gives the organization the impression that everybody is treated fairly with the available policies that are in place without bias. However, the threat arises when the fairness of one employee becomes prejudice to another employee. It can evoke emotions and feelings at the workplace can sow seeds of dissatisfactions among the workers. Chapter 10: page 326 1. What kinds of backgrounds/skills/experience are you going to look for in future employees? Working in an audit firm requires applicants to have got a vast experience in auditing and accounting skills and have attained a bachelor’s degree in the course of studies. The applicant should have done and passed an accounting professional exam or a member of the accounting/auditing professional board. Applicants should have had a work experience of at least of two years on similar field. Applicants should be having good communication skills to that they can perform the tasks not only to according to the client’s needs and findings, but also relate well with other employees. They should also possess good knowledge in computers skills, and more fundamentally, auditors must have high standards of integrity and work ethics when it becomes to service delivery. 2. Are you going to hire full-time or part-time? Due to the nature of the auditing work it is important to have full-time employees as they will be available to render their service at any given. However, during peak seasons part-time employees will be hired to supplement the demand of this job. 3. How will you find potential employees? Organizations spend a lot of resources to hire new workforce. Due to the costly nature of this exercise of hiring new staff human resource managers commit themselves to hire the best employees for the organization that is resourceful. When hiring the following factors have to consider; Competence, the candidate must have the necessary requirements that define the job description that include their level of experience, skills and educational background. It is critical to assess the organizational culture and its philosophy. Evaluate the goals of the organization, the working style and professionalism of the jobs in the company. It is important to look beyond the requirements of the job description especially in top management careers and analyze the personalities, qualities and even the social interactions outside workplace with your potential candidates. Team work is necessary for every organization. Evaluate whether the candidate is a person who can work well along with the work mates. 4. How will you bring diversity into your workforce? A diversified workforce presents a dynamic environment that promotes diversified ideas and innovations to the organization. It also shows the organization is committed towards gender equality. To promote diversity, you have to factor the following; Encourage mentorship and coaching sessions at the workplace as this will encourage the staff to share and interact with each other Motivating from the top encourages inclusive leadership whereby as a manager its is important to reward workers that are innovative so that they feel their efforts are appreciated Periodically assess the diversity of the organization and come up with a new plan that is inclusive towards diversity. Employee survey should be conducted to determine the obstacles and challenges that face diversity in the organization. Encourage and implement diversity work plan in the workplace by conducting seminars and trainings on the related topic to the staff. Chapter 11: page 362 1. Remind me of who your target market is? How will you reach them? Being an auditing firm, the ideal target is all the financial institutions which include banks, small micro-finance enterprises and the finance departments in all institutions. As much as they may have internal auditors, it is always in order to have independent external auditors who can to give an independent report on all the undertakings in the organization. Reaching these prospects may take various models depending on their location and the easiest means available. It may involve the use of e-mail marketing, seminars, face to face visits and even referrals from already established clients. As a start-up company, it is advisable that we handle each prospect according to their availability and the best method they would embrace. For instance, if they are easily convinced when approached physically, we better adopt that, and if they are rarely available, you can email in your proposal and book and appointment when they can be available. 2. What is the differential advantage of your product or service? What makes it unique? The differential advantage of this service is the added value in it which is commensurate with problem-solving capability. This is evident from the fact that I have studied all the providers of similar services in the market and I have observed that their weakness is only focusing on how best they can make profits out of their services among other weaknesses. It will be my strength since I will be able to serve all the clients well by looking at solving their problems that come with value of the service. 3. How should your product or service be priced? Should the price be above, equal, or below market? Why? The service can be priced according to the client needs, and this ignores a fixed charge since the work may not be the same in all of them. It is also good to put into consideration the target market so that you can avoid overpricing or under- pricing your services. Thus, the price has been fixed on an equilibrium level which makes it easy to reach both high-end clients and low-end clients. To charge the price that is in the market may avoid a lot of questioning especially why you are overcharging or undercharging. 4. What is a good promotional strategy for your product? Pro bono work is the best promotional strategy since it acts as a way of spreading the word out on your great work. The ability of giving out your services for free to selected clients probably to establish a rapport with them and can also be used as a point of referral to other prospects. It can be a good start especially when doing a pilot study of your works and can create a better penetration into the market. Activation can also be a good promotional strategy, and this involves a situation where you can setup a tent in a strategic point like a mall where clients regularly visit, and they can be approached once they succeed. The main aim is to get an appointment or their contact because they may not have all the time to listen to your presentation. Brochures and fliers can also act as a good way of spreading the word round. But you must ensure that these materials are given out to the appropriate people and have the best piece of information possible which in return can influence one reading it to make further inquiry about your services. 5. Are there any uncontrollable variables you need to be aware of? Just as any service providing industry, there are always uncontrollable variables like demand for services that may increase or reduce at any given time and may affect positively or negatively your business. Clients may also develop relationships with other competing firms or the company you are providing services for may die. These variable are uncontrollable and as a business person, you need to expect them and act as part of your business plan so that when they occur, you can be able to counter them. Chapter 12: page 398 1. Are there similar products or services in the area? If so, what are the prices as compared to your proposed ones? There are similar service providers in the area, and this has formed the basis of determining what prices that are proposed in the plan. Comparing prices of your future competitors provides a basis for you to be able to determine what to charge your anticipated clientele. Therefore it is an important factor that you focus on the providers of similar services in the area. The following was my summary analysis which made me charge an equilibrium figure. The highest is 10 percent more than the proposed ones in this plan while the lowest is 5 percent less than mine. Charging the price between the two will be creating another opportunity since you will be able to give a choice between the lower level value clients and the higher level ones. 2. What does market skimming mean? What is market penetration pricing? Which strategy is best for your company? To be able to maximize on the market and be able to meet the objectives of your company, you must be able to use various strategies. To begin with is, market skimming pricing- this is a marketing strategy where your objective is to reach high-end clients who are eager to buy your services and you charge them high prices especially when you have the urge to make profits in the short-run. Another strategy one can use is the market penetration pricing- this is, setting of low prices for the services so that it can be able to attract as many customers as possible to the company. It is commonly used strategy in the corporate world. Since my company is new, I would embrace the market penetration pricing since it will position me to be able to attract many clients who will take low pricing as a consideration. Chapter 13: page 431 1. What is digital marketing? Can you engage in digital marketing based on your chosen business? Why or why not? Digital marketing is a marketing tool which entails the utility of electronic resources which is the computer resource. It can range from the use tablets, smartphones, cell phones, laptops among others. The main aim is simply to reach clients who can to use similar objects, and being one of the commonly used tools especially in this modern era that is digital in nature. I would openly embrace this type of marketing since it reaches a wide number of prospects, and it is very fast especially in the dissemination of a lot of information for little time possible. Evidently many companies are using this type of platform. Hence as a start-up company, it would be of great benefit if this method is used appropriately. 2. Is it feasible to market your product using the Internet? Why or why not? It is very feasible for me to market my services on the internet since it networks and connect with many people within a short period or at the same time. If you look at the growth of the global market, internet is almost used by everyone and these are the target market. One may fail to reach every individual but with the internet you can as long as they are connected. The use of websites, e-mail and social media can help you reach a large mass of people who can be your prospects and eventually your clients. 3. Can your idea be solely Internet based? Why or why not? This business idea cannot be solely internet based since there are those prospects who need to be approached face to face/physically. There are also others who may not be solely convinced just by reading just a simple advertising material and understand fully. To add value to your services you should always approach your clients one on , and this will make you analyze all their needs. Also, it is good to put into consideration that there are those individuals who may not be connected to the internet throughout. Reference Pinson, Linda. (2004). Anatomy of a Business Plan: A Step-by-Step Guide to Building a Business and Securing Your Company’s Future (6th Edition). Page 20. Dearborn Trade: Chicago, USA. Read More